Will KAZ Minerals turn, or will it continue to rise beyond 596p September highs?

• The chart shows KAZ Minerals price action over the past 6 weeks.
• Shares +17% in the past week, now at 524p (at the time of writing). Will this momentum continue?
• Shares -53% from 2018 highs; +23% from 2018 lows; -41.3% year-to-date.
• Mining companies are benefiting from better than expected manufacturing sector gauge from China.
• Source: Bloomberg, FT, Reuters, DJ Newswires

Click to enlarge

Trading KAZ Minerals – An Example

Let’s say the trend appeals to you, you think it’s likely to continue. You decide to buy exposure to £10,000 worth of KAZ Minerals using a CFD, at the current price of 524p. To do this, you need £2,000.

Let’s assume the KAZ Minerals trend continues to September highs of 596p (+13.7%). Your profit would be £470, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 7% from the current price. KAZ Minerals falls 7% and hits your stop-loss. Your loss would be £700.

This is provided for information purposes only. It should not be taken as a recommendation.